Aberdeen Chevrolet
Sales: 410-272-0300
Service: 410-272-0300
Parts: 410-272-6766

Should I Buy or Lease?

Are you wondering whether to finance or lease your next car? The friendly team of professionals at your local Chevy dealership in Maryland has years of expertise in this matter, and will gladly fill you in on the options to lease vs. finance. We'll happily provide you with the peace of mind you need to make an educated choice on whether to buy or lease your next car, truck, van, or SUV.

Buying a Car 

If you buy your car outright with cash, you'll own your vehicle immediately. If you choose to finance your new car by making monthly payments before you fully it, you'll have to meet all of the obligations required by the lender. These responsibilities may include putting down a minimum payment and fulfilling your monthly installments on time. If an occurrence happens where you're unable to make payments or fail to meet the lender agreement terms, you may be subject to a repossession.

Cost Up-Front 

When you finance a vehicle, your bank lending facility will foreseeably request you make a down payment. Do you plan to trade in your current vehicle? If so, you could always opt to apply the worth of your trade-in toward your next vehicle's equity. The total amount of your down payment will be determined by your credit score, along with any other requirements your lender recommends.

Future Value of My Vehicle

How well you care for your vehicle throughout your ownership determines the value your car is worth. To keep your vehicle vigorous for many years to come, at optimal performance, be sure to schedule your Chevy maintenance appointments. The reliable service technicians at your Aberdeen Chevrolet Service Center will ensure your vehicle stays operating like it just came off the production line. Plus, the healthier you keep your car, the more equity you'll be able to build.

End of My Payments

Once you have paid off your vehicle in full, the buying process is complete. Per your contract, once your final payment is processed, your lending institution will mail your Lien Release as proof. Once you receive your lien release, you'll officially own one hundred percent of your vehicle. 

Leasing a Car

While financing a car is essentially buying to own, leasing a car is can be considered renting to return. You do not own the car you lease, and the payments you make toward your lease do not actually go toward your vehicle. Alternatively, you are paying for the use of the car. The financing institution is the actual owner of the car, which is good to know if you're debating whether to lease vs. finance. You typically pay less per month than if you were to finance a vehicle. Another advantage to leasing a vehicle is that your contract includes an excellent warranty. Applying for a lease may require having a co-signer or an above-average credit score.

Cost Up-Front

When you sign your leasing agreement, you are not required to make a down payment. You are required to make your first month's payment, a variable security deposit, your vehicle's acquisition fee, and any taxes or fees on the vehicle. To lower your monthly payments, you can always pay more upfront.  To learn more about the cost upfront when you buy or lease a car, talk with the financing team at your local Ford dealership in Keller, VA. 

Future Value of My Vehicle

At the end of your lease term, the value of your vehicle should remain true to the estimated worth of your vehicle according to your lease agreement. If you exceed the mileage limits or violate the wear and tear guidelines, it could cost you extra money at your lease-end. You can always opt to finance the vehicle you are leasing at the end of your contract as one of your three lease-end options. Although, in most cases, the financing institution remains the owner of the vehicle.

End of My Payments

There are three lease-end options once your lease term ends, and you've made your final payment. These options include simply handing over your keys to your local Keller Ford dealership, leasing or financing an all-new model, or refinancing and buying the vehicle you have been leasing. If you decide to trade in your lease for a new contract or purchase, the team at your local car dealership Aberdeen will seamlessly guide you through this process. 

The friendly finance team at your local Chevy dealership in Maryland is eager to assist you in driving the new car, truck, or SUV you've always wanted. It is wise to consider the amount of time you'll be driving your vehicle, along with the type of driving conditions that you experience on a day to day basis. If you are interested in customizing your classic Ford Mustang or venturing off-road in a rugged Ford F-150, you may consider buying instead of leasing. If you have no interest in modifying your new car, and your commute is easy-breezy, then leasing may be an excellent choice. Our team of experts will help you find the best option for you and your family, as well as a payment plan that accommodates your driving life. We look forward to speaking with you in person about whether to lease vs. finance your next car!

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